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Fortune Motor (Phils.) Inc. vs Metropolitan Bank and Trust Co., et al.

FORTUNE MOTORS (PHILS.) INC. petitioner, vs. METROPOLITAN BANK AND TRUST COMPANY, and THE COURT OF APPEALS, respondents.

G.R. No. 115068 | 1996-11-28

HERMOSISIMA, JR., J.:


Before us is a petition for review of the decision of the Court of Appeals in CA G.R CV No. 38340 entitled "Fortune Motors (Phils.) Inc., v. Metropolitan Bank and Trust Company et al. 1 The appellate court's decision reversed the decision in Civil Case No. 89-5637 of Branch 150 of the Regional Trial Court of Makati City.

It appears that Fortune Motors (Phils.) Inc. obtained the following loans from the Metropolitan Bank and Trust Company: (1) P20 Million, on March 31, 1982; (2) P8 Million, on April 30, 1983; (3) P2,500,000.00, on June 8, 1983 and; (4) P3 Million, on August 16, 1983.

On January 6, 1984, respondent...